California Government Code 21351 – The actual amount of annuity receivable by a member upon retirement …
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The actual amount of annuity receivable by a member upon retirement shall be the actuarial equivalent of his or her accumulated contributions.
(Added by Stats. 1995, Ch. 379, Sec. 2. Effective January 1, 1996.)
Terms Used In California Government Code 21351
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.